Social Security Should Be Enhanced, Not Cut, Elizabeth Warren Tells Senate

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Re: Social Security Should Be Enhanced, Not Cut, Elizabeth Warren Tells Senate

Originally Posted by pbrauer

I think it should be increased, I would like to see the cap taken off and possibly lowering the payroll tax somewhat. Can you imagine what would have happened during the Great Bush recession if there wasn't Social Security?

Given that I have run the numbers - yes. Seniors would have retired better off had they instead invested 10% of their income into the basic market over the course of their working lifetimes, instead of 15% of their income into Social (in)Security, and then retired at the end of 2008.

Re: Social Security Should Be Enhanced, Not Cut, Elizabeth Warren Tells Senate

Originally Posted by TurtleDude

why should rich people pay more and more and getting no increased benefits

The infrastructure benefits the wealthy much more than the 99%. Airports, highways, ports, intracoastals, gov't financing for huge energy projects(nukes, utilities), Military/Industrial/Corporate complex, no inheritance tax for bums that inherit wealth, pipelines, transmission lines, communications, and the list goes on. The 1% are leeches on the body economic of the Nation.

Re: Social Security Should Be Enhanced, Not Cut, Elizabeth Warren Tells Senate

Social Security is not sustainable. It should be eliminated and allow for individuals to invest in their own retirement throughout their lives. I can understand Medicare, but SS should be eliminated with more tax breaks given to retirement and investments for retirement.

When the debate is lost, slander becomes the tool of the loser. -Socrates

Re: Social Security Should Be Enhanced, Not Cut, Elizabeth Warren Tells Senate

Originally Posted by DaveFagan

The infrastructure benefits the wealthy much more than the 99%. Airports, highways, ports, intracoastals, gov't financing for huge energy projects(nukes, utilities), Military/Industrial/Corporate complex, no inheritance tax for bums that inherit wealth, pipelines, transmission lines, communications, and the list goes on. The 1% are leeches on the body economic of the Nation.

BS=-populist garbage. lots of envy mixed in with that stupidity. why do you claim to be a conservative when you spew populist hate the rich nonsense?

Re: Social Security Should Be Enhanced, Not Cut, Elizabeth Warren Tells Senate

Social Security Should Be Enhanced, Not Cut, Elizabeth Warren Tells Senate

"On the issue of the Chained-CPI, which Obama is reportedly advocating for, The Nation figures that a conservative estimate indicates that the CPI would "take $15,615 in cumulative benefits from the average senior who lived to 95."
But Warren is going much further and debunking the whole notion that seniors living on $1,269 a month are the major contributors to the deficit as compared to the tax breaks and loopholes that have led to the massive redistribution of national revenue to the top 1 %.
In a news release on Warren's senate website, she issued a clarion call to save our elderly from poverty imposed by the "conventional wisdom" of shifting the nation's financial assets to a privileged few:
“With tens of millions of people more financially stressed as they approach retirement, with more and more people left out of the private retirement security system, and with the economic security of our families unraveling, Social Security is rapidly becoming the only lifeline that millions of seniors have to keep their heads above water,” Senator Warren said. “And yet, instead of taking on the retirement crisis, instead of strengthening Social Security, some in Washington are actually fighting to cut benefits…
"So long as these problems continue to exist and so long as we are in the midst of a real and growing retirement crisis – a crisis that is shaking the foundations of what was once a vibrant and secure middle class – the absolute last thing we should be doing is talking about cutting back on Social Security. The absolute last thing we should do in 2013 – at the very moment that Social Security has become the principal lifeline for millions of our seniors – is allow the program to begin to be dismantled inch by inch.”

I think there needs to be a moderately paced shift from Social Security to government mandated contributions into indexed private investment accounts. I'd be okay with eventually getting to the place where 50% or more of Social Security contributions went to buy and add to indexed stock portfolios each month. President Bush had it right and the Democrats in Congress were in my opinion wrong. With individually mandated private investment accounts every working American would be essentially required to purchase, the generation entering the workforce today would all be wealthy by the time they retire; everyone who worked all of their lives, not just the privileged few.

Having opinions all over the map is a good sign of a person capable of autonomous thinking. Felix -2011

Re: Social Security Should Be Enhanced, Not Cut, Elizabeth Warren Tells Senate

It amazes me people approve of their money being taken by the government by force and it amazes me even more that they approve of being called idiots that can't save for their own retirements. I also think it's amazing that people actually want to rob their grandchildren to pay for their retirement.

Re: Social Security Should Be Enhanced, Not Cut, Elizabeth Warren Tells Senate

Originally Posted by Henrin

It amazes me people approve of their money being taken by the government by force and it amazes me even more that they approve of being called idiots that can't save for their own retirements. I also think it's amazing that people actually want to rob their grandchildren to pay for their retirement.

Well, they don't. That's why they lie to themselves and pretend like they are only getting out what they have paid in.

Re: Social Security Should Be Enhanced, Not Cut, Elizabeth Warren Tells Senate

Originally Posted by cpwill

Well, they don't. That's why they lie to themselves and pretend like they are only getting out what they have paid in.

I never cared for that argument. The money they have paid is gone and the money they are receiving comes from unwilling participants. If we are to consider Social Security a contract that the US government must uphold, in which many people treat it as, then it would follow that the contract would need to be signed and agreed to by all those taking part, or else it is nothing but theft by the us government.

As I see it, social security is a system of legalized theft that takes from the young and gives to the old in an attempt to boost the living standards of the old. I would need a new objection to Social Security if the young approved of this transaction to begin with, but of course, much like it is with many forms of taxation or mandated insurance coverage, no one would agree to such an arrangement making it clear that the arrangement is undesirable.

Re: Social Security Should Be Enhanced, Not Cut, Elizabeth Warren Tells Senate

Originally Posted by Henrin

I never cared for that argument. The money they have paid is gone and the money they are receiving comes from unwilling participants. If we are to consider Social Security a contract that the US government must uphold, in which many people treat it as, then it would follow that the contract would need to be signed and agreed to by all those taking part, or else it is nothing but theft by the us government.

I'm fine with treating it as a social contract - in which case, I want the money back from the Boomers that was supposed to be in the Trust Fund but which they spent on themselves, as well as the ability to formulate my own contract which involves me providing for my own retirement.

As I see it, social security is a system of legalized theft that takes from the young and gives to the old in an attempt to boost the living standards of the old. I would need a new objection to Social Security if the young approved of this transaction to begin with, but of course, much like it is with many forms of taxation or mandated insurance coverage, no one would agree to such an arrangement making it clear that the arrangement is undesirable.